Exhibit 99.1
| NEWS |
Georgia Gulf Announces Private Placement of Senior Secured Notes
Atlanta, Georgia, December 7, 2009 — Georgia Gulf Corporation (NYSE:GGC) today announced its proposed offering of $500 million aggregate principal amount of senior secured notes due 2016 (the “Notes”) in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”). The Notes will be senior secured obligations of the Company and will be initially guaranteed by substantially all of the Company’s domestic subsidiaries.
The Company intends to use the net proceeds from the offering of Notes, (i) to repay its existing senior secured credit facilities, (ii) to repay its existing accounts receivable securitization and (iii) to pay certain related transaction costs and expenses. The consummation of the offering of Notes will be conditioned upon the Company concurrently entering into a new senior secured asset based revolving credit facility, as well as other customary conditions.
The Notes and the related guarantees have not been, and will not be, registered under the Act or the securities laws of any other place and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. We are offering the Notes only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This notice is being issued pursuant to and in accordance with rule 135(c) under the Act.
Forward-looking Statement Safe Harbor
This press release contains “forward-looking statements” subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current assumptions regarding business conditions, and actual results may be materially different. Risks and uncertainties
inherent in these assumptions include, but are not limited to, future global economic conditions, economic conditions in the industries into which our products are sold, uncertainties regarding asset sales, synergies, potential sale-leaseback arrangements, operating efficiencies and competitive conditions, industry production capacity, raw materials and energy costs, uncertainties relating to Royal Group’s business, our ability to consummate the transactions described herein and liabilities and other factors discussed in the Securities and Exchange Commission filings of Georgia Gulf Corporation, including our annual report on Form 10-K for the year ended December 31, 2008 and our quarterly report on Form 10-Q for the quarter ended September 30, 2009.
CONTACT:
Martin Jarosick
Georgia Gulf Corporation
Investor Relations
770-395-4524
